SANTAM TO PAY THOUSANDS MORE COVID BI CLAIMS

South African insurer Santam will now pay out on thousands of additional Covid-19 related business interruption claims, following recent court judgements. The Cape Town-based insurer said on Monday that it will pay out on all of its 4,000 commercial clients with CBI policy extensions that cover contagious and infectious diseases. It had previously signaled that it would process claims on just 1,300 policies with CBI extensions in its hospitality and leisure division that had been specifically affected by recent court judgments. Santam said it had made the decision after further analysis and consideration of recent court judgments. Santam also said it will appeal the judgment of the Western Cape High Court in its BI dispute with Ma-Afrika Hotels with respect to the length of the indemnity period. The outcome of the appeal could result in significantly higher claims, it said.